Phosagro S Regulatory News (PHOR)

For Immediate Release 19 March 2015 PhosAgro-Cherepovets EGM Approves Merger of Agro-Cherepovets, PhosAgro AG andNordic Rus Holding into PhosAgro-Cherepovets Moscow - PhosAgro (Moscow Exchange, LSE: PHOR), one of the world's leadingvertically integrated phosphate-based fertilizer producers, announces that anextraordinary general meeting of shareholders ("EGM") of its subsidiaryPhosAgro-Cherepovets on 19 March 2015 approved the merger of PhosAgrosubsidiaries Agro-Cherepovets, PhosAgro AG and Nordic Rus Holding intoPhosAgro-Cherepovets. PhosAgro currently owns 100% of all of these companies. The EGM also approved an additional issue of ordinary shares byPhosAgro-Cherepovets, which will be used for the conversion of shares ofAgro-Cherepovets, PhosAgro AG and Nordic Rus Holding in the process of themerger. PhosAgro CEO Andrey Guryev said: "this decision is one more step towards ourstrategic target of consolidating the Company's assets, which we believe willimprove the efficiency of management processes and eliminate duplicateadministrative functions by creating a single legal entity." The merger of PhosAgro subsidiaries Agro-Cherepovets, PhosAgro AG and NordicRus Holding into PhosAgro-Cherepovets is planned to be completed in the thirdquarter of 2015. For further information please contact: OJSC PhosAgro Irina Evstigneeva, Head of Corporate Finance and Investor Relationsir@phosagro.ru+7 495 231 3115 Timur Belov, Press OfficerAnastacia Basos, Deputy Press Secretary+7 495 232 9689 EM Sam VanDerlipvanderlip@em-comms.com+44 7554 993 032+7 499 918 3134 Notes to Editors PhosAgro is one of the leading global vertically integrated phosphate-basedfertilizer producers. The Company focuses on the production of phosphate-basedfertilizers, feed phosphate and high-grade phosphate rock (P2O5 content of notless than 39%), as well as ammonia and nitrogen-based fertilizers. The Company is the largest phosphate-based fertilizer producer in Europe, thelargest producer of high-grade phosphate rock worldwide and the second largestMAP/DAP producer in the world (excluding China), according to Fertecon.PhosAgro is also one of the leading producers of feed phosphates (MCP) inEurope, and the only producer in Russia. PhosAgro has 2.1 billion tonnes of resources (according to JORC) of highquality apatite-nepheline ore. The Company's mines and phosphate rockproduction facilities are located in the mountainous areas of the KolaPeninsula in the Murmansk region of northwest Russia, whereas its fertilizerand feed phosphate production assets are located near the city of Cherepovetsin the Vologda region and near the city of Balakovo in the Saratov region ofsouthwest part of European Russia. PhosAgro's 2013 IFRS revenue was over USD 3.3 bln and EBITDA was USD 752 mln.The Сompany's net debt/EBITDA ratio was 1.8 at 31 December 2013.

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